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Imposition of a Fine on Allianz Saudi Fransi Cooperative Insurance Co. due to the violation of the Rules on the Offer of Securities and Continuing Obligations

​Capital Market Authority (CMA) announces the issuance of a CMA's Board resolution to Impose a fine of (40,000) Forty Thousand Saudi Riyals on Allianz Saudi Fransi Cooperative Insurance Co., due to its violation of paragraph (5) of Article (62) of the Rules on the Offer of Securities and Continuing Obligations. Where the Company did not disclose to the CMA and the public immediately and without delay of changes in the composition of the directors according to Board Resolution Number (17-2021) Dated 13/12/2021G., as the company did not disclose that on the Saudi Exchange (Tadawul) Company's website until 14/02/2022G.